Switzerland’s largest pension investor made a net loss of 3.2% across the CHF37.6bn (€33bn) of total consolidated assets it managed for 20 pension plans last year, it announced yesterday.Without currency hedging, the result would have been 10bp higher (-3.1%), said Publica, which manages the retirement savings of federal employees.Publica runs money for 13 open pension plans and seven closed plans. The CHF34.3bn run for open pension plans lost an average 3.5% in 2018, while the seven closed plans’ invested assets lost an average 0.2%.The 0.2% loss for the closed pension plans was above the performance of the Pictet Swiss pension fund indices, while the result for the open pension plans was slightly below that of Pictet’s comparable indices, it said. The main reason for the negative performance in the open plans, Publica said, was its strategic decision to broadly diversify its portfolio and – among other things – to invest 16% in emerging market equities and bonds. Emerging market equities fell by 13%.The indices calculated by Pictet for Swiss pension fund portfolios have a small strategic allocation to emerging markets, so they were less affected by the downturn.Most major asset classes detracted from Publica’s overall performance last year, especially its equities allocation. Emerging markets weakened overall performance by just under 1.5%, while investment in industrialised countries weakened performance by roughly 2.1%.However, the strategic decision to invest in private infrastructure debt paid off, as these assets returned 2.1% in 2018, Publica said.The best performing asset classes were domestic and international real estate, which returned 6.7% and 4%, respectively. Together they added just under 0.5% to the portfolio.Publica’s annual average return was 2.9% over the period from 2000 to 2018, exceeding the average return of the fund’s benchmark by 20 basis points per year.The funding ratio for the open plans was estimated at around 100% as at the end of 2018, and at 107% for the closed plans.The results reported by Publica are unaudited, with exact figures due to be published alongside its 2018 annual report in the spring.The pension fund is rolling out a revised investment strategy that it decided on last year. This includes increasing its allocation to private markets, including real estate debt, and cutting its government and corporate bond allocations.
Press Association Newcastle boss Alan Pardew is gearing up for a fight to hold on to skipper Fabricio Coloccini for the second time in five months. However, Press Association Sport understands there has been no contact between the two clubs, and that any approach from the South Americans would not be welcomed. Pardew has repeatedly spoken of his desire to keep Coloccini, although he admits the decision ultimately lies with the former Deportivo La Coruna man. However, any deal would be fraught with difficulties with the player still under contract and San Lorenzo having admitted they will not be able to come anywhere near Newcastle’s valuation of a man who cost them £10.3million in August 2008. Coloccini is a fans’ favourite and his influence during the tense final few weeks of a difficult season was key, and central defensive partner Steven Taylor is as keen as Pardew to see him stay. Taylor told the Shields Gazette: “The lads love playing with him and we hope he stays. “Colo and I have had a great partnership over the past few seasons. We have a good understanding. We know each other’s strengths and weaknesses. We seem to be able to mix it up. “He’s very composed and he’s not shy of a tackle as well. He’s been great a guy in training. You can learn a lot from him. I’ve got a fantastic partnership with him, and hopefully that will continue.” The 31-year-old asked to leave the club for personal reasons in January, but was persuaded to stay on Tyneside, with Pardew determined to retain the services of a man who signed a four-year contract extension in March last year. Argentinian club San Lorenzo, who employ Coloccini’s father as a youth coach, are desperate to recruit the central defender, and president Matias Lammens has already indicated he is planning to fly to England in a bid to prise the player away from the Magpies.
AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis If you’re looking for something fun for your kids to do this summer, tomorrow is your chance. They’ll be able to enjoy a day of fishing exclusively for kids!Alpena’s Optimist Club is hosting an event just for kids, and allowing them to reel in some big ones.“We put about 400 fish in there and there’s some browns and there’s some bruck trout,” said Jim Seguin, Optimist Club VP.For over twenty years the club has hosted the free event, giving kids the opportunity to enjoy a safe day of fishing.“We really felt that there was a need for activities for the children and that’s what our main goal is to do stuff for the children and we thought what a great way to do this than to introduce the kids to fishing,” said Seguin.Guests won’t have to worry about bringing any fishing poles or bait, just their children!“There’s nothing better than to see a big smile on children’s face you know what I mean and they’re just so happy to get that fish,” said Seguin.The event will take place tomorrow at Culligan Plaza from 10am until 2pm. AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisContinue ReadingPrevious Trial Date Set for Ossineke Twp. Clerk Accused of Sexually Assaulting GrandchildNext Suspect Identified in String of Vehicle Thefts Around Rogers City